At number 1053th in the list of Australian suburbs ordered by increase in median house value over the last year, Lenah Valley, 7008 is in the top 30% with a property value increase of 12.59% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Lenah Valley comes in at number 23th in TAS.
Our latest figures would indicate that property sellers in Lenah Valley are currently offering property investors an average price cut of -7.23% below the asking price at the moment.
A $390 per week rent on the median house gives suburb investors a gross yield of circa 4.24%, without taking into account capital value appreciation, which has been averaging out at 3.93%.
Property investors who have had real estate in Lenah Valley, 7008 should be pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 17.41%
If we look at median property appreciation over just the last three months, Lenah Valley has given property investors a paper return of 3.09%. This puts Suburb as 12 on a list of fastest fasting appreciating suburbs in TAS
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.16% offered to property buyers. Sellers in Lenah Valley itself are offering an average vendor discount of -4.51% to real estate investors.
Residents and property investors in Lenah Valley have been waiting around 26.04 days to sell a property.
Situated 4.05km from the CBD, Lenah Valley is one of Hobart localities in the postcode 7008.
Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.Full summary
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Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.
There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.
It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.